fattybagz

Visual Futurist // Internationally Published Artist // Engineer // 100M+ TikTok views // Building @neofunhq @SwapRoyale

[fattybagz @fattybagz]

Clip it chat.

See you all in the @AskVenice Lumara Film Festival 🙌

@MarketBubble @Banks @blknoiz06

[fattybagz @fattybagz]

Paired ≠ Backed

[NEO @neofunhq]

Paired ≠ Backed.

$QQQ in the $NEO pool provides liquidity. $QQQ in the Vault backs the redeemable floor.

Through CLIMB (Concentrated Liquidity in Monotonic Bands), fixed price bands accumulate $QQQ as $NEO is bought. Eligible bands are then swept into the Vault as backing.

[fattybagz @fattybagz]

@capcutapp Let’s ride! 🙌🫶

[fattybagz @fattybagz]

@0xkuromi_ my favortie one so far 🐯

[fattybagz @fattybagz]

DeFi season

[JeffX @JeffExtor]

Yesterday, we launched NEO. I’ve been looking forward to finally talking about what we’ve built, because I think the idea behind it has the potential to change how people think about launching and structuring tokens.

In 2021, I was part of the core development team at Olympus DAO. Olympus became far bigger and more successful than any of us expected, and it remains one of the most important things I’ve had the opportunity to work on. It also showed me firsthand what can happen when a new piece of monetary design reaches the market at the right moment.

The industry has evolved considerably since then. Market structure is better, token design is more sophisticated, and we now have real-world assets beginning to exist as genuine onchain primitives. I’ve spent much of the last few years thinking about what those changes make possible and, specifically, whether the basic architecture around token liquidity can be improved.

NEO is the first implementation of that work.

The idea begins with a distinction that I think is more important than it initially sounds:

Paired does not equal backed.

Almost every token has some form of liquidity. An asset sits on the other side of a pair and allows the market to function. That infrastructure works extremely well, but it does not mean the token itself is economically backed by the asset it trades against.

I started asking what happens if we keep the existing liquidity layer exactly where it belongs, but add something underneath it.

With NEO, there is a normal market and liquidity layer, but behind it sits a vault containing tokenized QQQ. The QQQ in that vault is not there to facilitate trades. It is protocol backing, and NEO can be redeemed against it.

That changes the structure of the token.

As trading occurs, protocol fees can add additional QQQ to the vault. NEO that returns through the system is burned. Market activity therefore does not only create volume and price discovery; it can continuously increase the amount of backing underneath the remaining supply.

We call this the rising floor.

The important point is that this floor is not a chart level, a target, or a promise about where the market should trade. It is an economic value derived from assets held by the protocol.

That is why the distinction matters so much:

Paired does not equal backed.

I think this could become a much broader design principle.

For most of crypto’s history, liquidity has existed around a token. NEO explores what happens when market activity can also build something underneath the token.

If that model works at scale, I think it opens up a different way of thinking about token construction altogether: liquidity on one layer, protocol-owned backing on another, and trading activity progressively strengthening the economic base of the asset.

That is much bigger to me than one launch.

We deployed the contracts yesterday and intentionally remained quiet at first. Before explaining the thesis publicly, I wanted to see the protocol operating under real market conditions. The initial activity has been substantially higher than we expected and so far the system is behaving as intended.

Now we can start explaining what is actually here.

Over the next several days we’ll release documentation, videos and deeper technical material around the mechanism. There is a lot more to the system than can reasonably fit into one post.

More importantly, what went live today is only the first stage.

We already have step two and step three built out, and we are working on a much broader set of ideas around how backing, liquidity and onchain assets can interact. The protocol you see today is the first proof of concept, not the end state.

The timing is especially interesting because tokenized equities are finally becoming usable onchain assets. QQQ is the first backing asset we are using, but the much larger opportunity is that stocks, treasuries and other real-world assets can now become components inside token architecture itself.

That design space barely existed when Olympus was built.

Now it does.

During Olympus, there was a point where it became clear that the mechanism itself had escaped the original protocol. People were studying it, modifying it, building around it and thinking differently because it existed.

I think the idea behind NEO has that kind of potential.

Not because every token should use this exact implementation, and not because one model solves every problem, but because I think backing can become a first-class component of token design rather than an afterthought.

@fattybagz , who also worked on Olympus, is building this with me, alongside a group of people across protocol development, markets and infrastructure that I’m extremely happy to be working with.

I’m particularly interested in what other developers, market makers and liquidity providers make of the architecture once they have had time to pull it apart. If the idea is as useful as I think it is, I expect people will find applications for it that we have not considered yet.

Olympus was an extraordinary chapter to be part of. The years since have given me a lot of time to think about how a new monetary experiment might be designed differently.

Today, that experiment is live.

NEO is the first implementation.

And I think we are only beginning to understand what this model can become.

$NEO Contract Address: 0x37f5b13345c6723E17CE45d388c9C4f7aD8342C3

[fattybagz @fattybagz]

@CapitalMktGuy @BrenzGarage A blast to drive.

Always called mine the adult go-kart.

Still one of the most fun cars I've ever had.

[fattybagz @fattybagz]

@lorenzodoteth @Banks @moonpay @AskVenice Thank you guys for putting this on! 🫶

[fattybagz @fattybagz]

Submitted.

Good luck to all of the Lumara Film Festival entrants.

[fattybagz @fattybagz]

@moonpay @Banks @AskVenice 🫶🟣

[fattybagz @fattybagz]

@Web3Twon 🤣🤣

Excellent deal if you locked that in bro!

[fattybagz @fattybagz]

The real runners this cycle were RAM and NVIDIA gpu's

[fattybagz @fattybagz]

@LLMJunky my brother in christ

my computer just keeps appreciating

what a time to be alive.

[fattybagz @fattybagz]

@MiniMax_AI The GOAT's

No one has made waves in the creative world like you guys have.

THANK YOU!

[fattybagz @fattybagz]

@Web3Twon 😂😂

[fattybagz @fattybagz]

@ashen_one @jaro3th Hit your DM's with some deets

[fattybagz @fattybagz]

Yea open weights.

Depends what you want out of it. Minimum that actually works OK is a 24 GB card (3090 or 4090) with 32 GB of system RAM, running the pruned int8 files with pinned memory turned off.

That gets you full clips with audio, just at lower res and 20 plus minutes each.

What I'd recommend is a 5090 with at LEAST 64 GB of system RAM. That's where you get full 768x1344 clips in a few minutes.

16 GB cards can technically run it with a lot of system RAM, but it's too slow to build anything on.

[fattybagz @fattybagz]

@Web3Twon 😭😂😂

[fattybagz @fattybagz]

If you're a dad..

You understand the level of GOAT'ery that Ms.Rachel brings.

[fattybagz @fattybagz]

@Plaxtico_ 💯 the goat

[fattybagz @fattybagz]

@EndrewBiz Ty 🙌

[fattybagz @fattybagz]

Hood stimmy

[fattybagz @fattybagz]

@Danmehmet_ 📠📠📠

[fattybagz @fattybagz]

How has X served this to 454 people lmao

Algo still cooked.

[fattybagz @fattybagz]

Hood stimmy